Belrise Industries Plans Rs 2,150 Crore IPO to Reduce Debt

26 Nov 2024 CW Team

Indian automotive component manufacturer Belrise Industries has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise Rs 2,150 billion through an initial public offering (IPO). The offering will be entirely a fresh issue of shares, with no offer for sale (OFS) component. The company is also considering a pre-IPO placement of up to Rs 430 billion, which could reduce the final size of the issue.

Belrise plans to utilize Rs1,618 billion of the IPO proceeds to pay off its debt, which stood at Rs 2,463 billion as of June 2024. With a robust presence in the automotive sector, the company manufactures a range of safety-critical components for vehicles across multiple categories, including two-wheelers, four-wheelers, and commercial vehicles. It has established relationships with major OEMs like Bajaj Auto, Hero MotoCorp, Honda, and Jaguar Land Rover.

The company’s revenue grew 13.7% to Rs 7,484.24 billion in FY24, while profit after tax stood at Rs 310.88 billion. Belrise operates 15 manufacturing facilities across eight states and has expanded its market reach internationally, including to the UK, Japan, and Thailand. Axis Capital, HSBC, Jefferies India, and SBI Capital Markets are managing the IPO.

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